- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Education
Scholarships/Grants that exceed the amount of qualifying educational expenses become taxable income to the student. For example, if your scholarships and grants are $10,000, but your qualifying educational expenses are only $7,000, you would owe taxes on the remaining $3,000.
Keep in mind qualifying amounts are for tuition and fees, books, equipment - room and board as well as transportation are not considered qualifying education expenses.
‎June 4, 2019
12:47 PM